The FHFA director believes mortgage fraud is rampant at Fannie and Freddie. That includes allegations that New York Attorney General Letitia James, a nemesis of President Trump, fraudulently obtained GSE-backed loans. James denies the allegations.
New bills in Congress aimed at the housing market have some bipartisan support; Trump fires Democrats on NCUA board; Trump administration looks to boost mortgage activity at smaller banks.
FHFA directed the GSEs to end their SPCPs, prompting renewed concerns that the Trump administration could take further actions to limit special purpose credit programs in the mortgage market.
FHFA Director Bill Pulte gets a glimpse of what congressional oversight looks like as leading Democrats criticize him for actions in his first weeks in office.